Private closed economy based question
The data of columns 1 and 2 of the below table are for a private closed economy. Given the original $20 billion level of exports, determine the equilibrium GDP if imports were $10 billion greater at each level of GDP?
Expert
Imports = $40 billion: In the private open economy aggregate expenditures would fall by $10 billion at each GDP level and the new equilibrium GDP would be $300 billion.
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what are the advantages and disadvantages of working capital source of finance
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Allotment: The permitted division of an amount (generally of an appropriation) to be expended for a specific purpose throughout a particular time period. An allotment is usually authorized on line item expenditure basis by program or
Veto: It is the Governor's Constitutional authority to reduce or remove one or more items of appropriation while accepting other parts of a bill.
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Budget Act (BA): The annual statute authorizing state departments to use up appropriated funds for the aims stated in the Governor's Budget and improved by the Legislature.
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